Fundamentals of Due Diligence for Houses
Monday, September 08
Due diligence is the most boring part of real estate investment that is often overlooked. Unfortunately, that is when it comes back to bite you. Proper due diligence is absolutely vital to avoid making huge mistakes. Unfortunately, almost every investor I know (including myself) has learned this ...
Best Tid Bits of Advice on Real Estate Investment I've Heard: Part 2
Friday, September 05
For Part 1- Live below your means- Don't wait for good things to happen, be proactive- Never buy something you can't re-sell in 45 days (hat tip @Gary Thomas)- Unless extreme circumstances, never buy something based on appreciation or cash flow if it doesn't have equity in it at the time of purch...
Fundamentals of Due Diligence for Apartments
Thursday, September 04
Due diligence is always extremely important, but when it comes to apartments, especially large apartments, due diligence becomes all the more important.I have witnessed a lot of projects fall to pieces as budgets exploded and properties that appeared to be great deals became money pits more often...
The Definitive List of Everything To Look For On a Seller Pro Forma
Wednesday, September 03
Every apartment for sale comes with a handy seller-provided pro forma that outlines the expected rents, expenses and profit for whomever buys it. But what should one look for on these pro formas? It's a tough question so I have decided to provided an exhaustive list of everything a real estate in...
The Art of De-Escalating Situations with Tenants
Friday, August 29
When it comes to property management, there may be no more important a skill than being able to de-escalate a situation. To learn this skill, there is no better resource than Dale Carnegie's seminal book, How to Win Friends and Influence People. In brief, when a tenant is angry about a maintenanc...
The 70% Rule is a Good Guideline
Thursday, August 28
I've been fairly critical of the other rule of thumbs that float around these boards, a little bit regarding the 50% rule and a lot regarding the 2% rule. However, I must say, the 70% rule is a very solid guideline (there are no rules that work every time when it comes to real estate).The rule si...